Here’s an early look at May’s New Listings and Sales.  New Listings continue to outpace Sales. And the number of New Listings is still are lower than pre-pandemic levels.

Buying demand is not strong enough for the listing supply. Sellers price expectations are not inline with Buyers appetite.

The market is relatively stable and balanced. It’s still a mild Sellers market in certain price ranges and markets because of the lower supply and healthy demand. Some buyers have returned because interest rates are more predictable.

Some Sellers are still reluctant to sell because average prices are lower than last year. And if people don’t have to sell, it’s not enticing to sell for less than the neighbors sold for last year.

Locally the nicest, most well priced, and affordable homes are seeing multiple offers again.

It’s a strong Sellers Market south of here in the GTA. Inventory is low and demand is high. Sellers and Agents are again underpricing and holding offer date bidding wars. That demand is not wide spread in our area yet because of relative affordability in the city.

Buying and selling in this market requires a professional and experienced agent.  Please let me know if I can help in any way, I’m here to help.

All my best!